The overall chart pattern of Nifty remains strong on the upside and any decline from the hurdle could be a buying opportunity, says Nagaraj Shetti of HDFC Securities.
Rajesh Palviya of Axis Securities feels the next higher levels to be watched are around 14,900 levels. Any sustainable move above 14,900 may cause momentum towards 15,000-15,100 levels, he said.
Any intra-week dips down to the support of 14,500-14,400 levels could be a buying opportunity, Nagaraj Shetti of HDFC Securities advised.
Rajesh Palviya of Axis Securities feels the next higher levels to be watched are around 14,600 levels.
According to pivot charts, the key support levels for the Nifty are placed at 14,256, followed by 14,170.7. If the index moves up, the key resistance levels to watch out for are 14,443.9 and 14,546.5
The daily price action has formed a bullish candle near the multiple support zone of 14,300-14,200 levels, which remains a crucial support zone to watch out for, said Rajesh Palviya of Axis Securities.
Rajesh Palviya of Axis Securities feels on the downside, any violation of an intraday support zone of 14,200 levels may signal weakness towards 14,000 levels.
Any violation of an intraday support zone of 14,300 may signal weakness towards 14,200-14,000 levels, says Rajesh Palviya of Axis Securities.
Rajesh Palviya of Axis Securities feels any sustainable move above 14,700 may lift the index towards 14,800-14,900 and this should be used as an exit opportunity for short-term traders.
Any sustainable move above 14,650 may cause pullback towards 14,800-14,900 levels, and should be used as an exit opportunity for short term traders, Rajesh Palviya of Axis Securities has said.
For the Nifty, 14,785-14,652 (gap area) still remains a crucial resistance zone in the near term, esh Palviya of Axis Securities has said.
In the near term, 14,265 level is an important support zone to watch out for, said Rajesh Palviya of Axis Securities.
Rajesh Palviya of Axis Securities feels the next higher levels on the Nifty to be watched is around 15,000-15,100.
Any sustainable close above 14,900 levels on the Nifty will confirm 'consolidation range' breakout, says Rajesh Palviya of Axis Securities.
The key support levels for the Nifty are placed at 14,685.93, followed by 14,552.87. If the index moves up, the key resistance levels to watch out for are 14,915.93 and 15,012.87.
Key support levels for the Nifty are placed at 14,578.57, followed by 14,473.63. If the index moves up, the key resistance levels to watch out for are 14,783.77 and 14,884.03.
Nagaraj Shetti of HDFC Securities feels the short term trend of Nifty remains rangebound around 14,900-14,400 levels.
Rajesh Palviya of Axis Securities said any pullback towards 14,620-14,570 (gap area) in Nifty should be used as a buying opportunity.
Rajesh Palviya of Axis Securities feels the short-term trend of Nifty seems to have reversed after Tuesday's bullish move.
The next upside levels for Nifty to be watched around 14,700 and a sustainable move above this area could open further upside in the near term, Nagaraj Shetti of HDFC Securities feels.
Nagaraj Shetti of HDFC Securities feels the short term trend of Nifty continues to be weak and a decisive move below 14,300 levels could drag the index towards the next lows of 14,000 levels in the near term.
Nagaraj Shetti of HDFC Securities feels the short term trend of Nifty seems to have reversed down after a small upside bounce.
Nagaraj Shetti of HDFC Securities feels the short-term trend of Nifty remains positive, but market's inability to sustain above the hurdle of 14,850 could be a cause of concern.
A further upmove in NIfty will confirm the reversal pattern and can open more upside in the coming sessions at 14,900-15,000 in the short term, Nagaraj Shetti of HDFC Securities has said.
A decisive move below 14,500 levels is likely to trigger a broad-based weakness in the market and in such scenario, the Nifty could test 14,000 levels over the next week, said Nagaraj Shetti of HDFC Securities.